Kuehne + Nagel International AG

Kuehne + Nagel International AG Analyst Conference Call Half-Year 2013 Results July 15, 2013 (CET 14.00) Schindellegi, Switzerland

Forward-looking Statements This presentation contains forward-looking statements. Such statements are subject to risks and uncertainties as various factors, many of which are beyond the control of Kuehne + Nagel International AG, may cause actual development and results to differ materially from the expectations contained in the presentation. Reference is also made to our disclaimer on the last slide of this presentation. Slide 2

Agenda Overview Half-Year 2013 Results Operating Review Financial Review Outlook Appendix Slide 3

CHF million CHF million CHF million Overview Half-Year 2013 Results Kuehne + Nagel Group 10400 10000 9600 9200 8800 8400 Turnover 10394 10062 9849 9786 8498 H1 2009 H1 2010 H1 2011 H1 H1 2013 Increased invoiced turnover by 3.3% Increased Gross Profit by 2.6% and EBIT by 5.5% Strict cost control and savings initiatives implemented; main impact in second semester Working capital intensity stable at 3.6% Effective tax rate sustainable at 21 22% 3200 Gross Profit 400 EBIT 396 3100 3000 2900 2929 2961 2954 3032 3112 350 300 327 357 347 366 2800 H1 2009 H1 2010 H1 2011 H1 H1 2013 250 H1 2009 H1 2010 H1 2011 H1 * H1 2013 * Excl. EU Antitrust fine of CHF 65 million Slide 4

Highlights per Business Unit Seafreight Airfreight Road & Rail Contract Logistics Market increased by 1-2% Contracting market Market decreased between 0 to -2% Market stagnating Market rate volatility continues Rates stable, with possible rate peaks in Q3 and Q4 Driver shortage in Germany persists Strong competitive environment Kuehne + Nagel: Kuehne + Nagel: Kuehne + Nagel: Kuehne + Nagel: Increased volume by 3% Increased volume by 4% Net invoiced turnover of -3% (excl. FX) Increased net invoiced turnover by 3% (excl. FX) Stable GP/TEU Conversion Rate at target of 30% Increased margin GP/100kg Conversion Rate at target of 25% EBIT target not reached Q2 2013 substantially improved over Q1 2013 Effects of Location Masterplan show continuous improvements of results Slide 5

Income Statement CHF million Q1 Q2 HY1 2013 Q1 2013 Q2 HY1 2013 Variance Q1 Variance Q2 Variance HY1 Invoiced turnover 4'834 5'228 10'062 5'094 5'300 10'394 260 72 332 Gross profit 1'502 1'530 3'032 1'537 1'575 3'112 35 45 80 Gross profit margin 31.1% 29.3% 30.1% 30.2% 29.7% 29.9% EBITDA 218 236 454 219 247 466 1 11 12 EBITDA margin 4.5% 4.5% 4.5% 4.3% 4.7% 4.5% EBITA 182 200 382 183 212 395 1 12 13 EBITA margin 3.8% 3.8% 3.8% 3.6% 4.0% 3.8% EBIT 165 182 347 169 197 366 4 15 19 EBIT margin 3.4% 3.5% 3.4% 3.3% 3.7% 3.5% EBT 168 185 353 171 200 371 3 15 18 EBT margin 3.5% 3.5% 3.5% 3.4% 3.8% 3.6% Earnings for the period (excl. one-off) 133 146 279 134 155 289 1 9 10 One-off (65) - (65) - - - 65-65 Earnings for the period 68 146 214 134 155 289 66 9 75 Slide 6

Seafreight Performance of Business Unit Income Statement in CHF million HY1 HY1 2013 Variance Invoiced Turnover 4'314 4'483 3.9% Gross profit 630 639 1.4% EBITDA 196 198 1.0% EBIT 185 187 1.1% EBIT in % of GP 29.4% 29.3% 1'000 900 800 700 600 500 400 754 34.3 414 825 32.9 379 862 33.4 364 914 833 879 819 861 32.5 30.5 30.4 31.3 28.3 378 383 359 363 364 911 838 29.9 28.6 379 352 45.0 40.0 35.0 30.0 25.0 TEU '000 GP/TEU in CHF Conversion Rate Highlights Half-Year 2013 Volume growth of 3.0% Gross Profit increased by 1.4% Higher EBIT/Gross Profit conversion rate in second quarter of 29.9% vs. 28.6% in first quarter 2013 Continuous high focus on productivity improvement and Return on Sales investment 300 200 000TEU, Q1 2011Q2 2011Q3 2011Q4 2011Q1 Q2 Q3 Q4 Q1 2013Q2 2013 CHF 20.0 in % Slide 7

Seafreight Volume per Tradelane 54 North America - Europe TEU 000 HY1 2013: 1 749 TEU 000 HY1 : 1 698 Volume growth HY1 2013: 3.0% North America 138 Intra-Europe 48 Europe - Middle East/Africa 100 Asia-Pacific - Middle East/Africa 65 North America - Asia-Pacific 167 Asia-Pacific - North America Europe - North America 420 Asia-Pacific - Europe 124 Intra-Asia 65 204 Europe Asia-Pacific 45 Asia-Pacific South America 125 South America in TEU 000 194 Worldwide Slide 8

10 World's Largest Seafreight Forwarders Market Share (by Revenue) excl. carriers 10.9% 5.9% 5.5% 3.4% 3.3% 59.8% others 2.5% 2.5% 2.4% 2.2% 1.6% Source: Transport Intelligence (June 2013) Slide 9

GP/TEU in CHF Gap to Peers in % GP per TEU in CHF - Gap to Peers 450 14% 16% 14% 400 10% 10% 10% 12% 12% 10% 7% 8% 8% 350 6% 6% 2% 4% 2% 300 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 0% Gap to peers in % Peer group weighted avg. GP/TEU in CHF Kuehne + Nagel GP/TEU in CHF Peer group: DHL, DSV, Panalpina; Remark: Other competitors do not publish comparable data; Source of data: Company reports; Applied exchange rates: YTD average rate per quarter. Slide 10

Airfreight Performance of Business Unit Income Statement in CHF million HY1 HY1 2013 Variance Invoiced Turnover 1'981 2'058 3.9% Gross profit 415 442 6.5% EBITDA excl. one-off item 115 124 7.8% EBIT excl. one-off item 105 110 4.8% One-off item (65) - (100.0%) EBIT 40 110 175.0% EBIT in % of GP 25.3% 24.9% 270 220 170 120 70 274 276 283 281 259 264 268 270 272 277 30.8 29.5 30.3 26.2 27.0 24.5 24.2 25.6 23.5 22.0 75 73 73 75 76 78 76 76 78 81 40.0 35.0 30.0 25.0 20.0 15.0 Tons '000 GP/100kg in CHF Conversion Rate Highlights Half-Year 2013 Volume growth of 3.7% Gross Profit increased by 6.5% Higher EBIT/Gross Profit conversion ratio in second quarter of 25.6% vs. 24.2% in first quarter 2013 Continuous high focus on productivity improvement and Return on Sales investment 20 000 Tons, CHF Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 Q2 Q3 Q4 Q1 2013 Q2 2013 10.0 in % Slide 11

Airfreight Volume per Tradelane 32 North America - Europe Tons 000 HY1 2013: 558 Tons 000 HY1 : 538 Volume growth HY1 2013: 3.7% 18 North America 72 Europe - North America Intra-Europe 25 Europe - Middle East/Africa 27 Asia-Pacific - Middle East/Africa 17 North America - Asia-Pacific 16 Asia-Pacific - North America 29 Africa - Europe 88 55 Europe Asia-Pacific Asia-Pacific - Europe 26 Intra-Asia 48 Import 69 Export South America in Tons 000 36 Worldwide Slide 12

10 World's Largest Airfreight Forwarders Market Share (by Revenue) 7.5% 8.8% 5.6% 4.1% 55.3% others 3.4% 3.3% 3.3% 3.2% 3.2% 2.2% Source: Transport Intelligence (June 2013) Slide 13

GP/100kg in CHF Gap to Peers in % GP per 100 kg in CHF - Gap to Peers 80 25% 75 20% 20% 16% 70 14% 13% 15% 65 11% 10% 11% 10% 60 7% Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 6% 5% Gap to peers in % Peer group weighted avg. GP/100kg in CHF Kuehne + Nagel GP/100kg in CHF Peer group: DHL, DSV, Panalpina; Remark: Other competitors do not publish comparable data; Source of data: Company reports; Applied exchange rates: YTD average rate per quarter. Slide 14

Road & Rail Performance of Business Unit Income Statement in CHF million HY1 HY1 2013 Variance Invoiced Turnover 1'558 1'527 (2.0%) Net Invoiced Turnover 1'421 1'396 (1.8%) Gross profit 456 456 - EBITDA 29 17 (41.4%) EBITA 15 5 (66.7%) EBIT 2 (5) n/a EBITDA / Revenue margin 1.9% 1.1% EBIT / Revenue margin 0.1% (0.3%) EBIT / GP margin 0.4% (1.1%) 19 EBITDA Highlights Half-Year 2013 14 13 14 11 14 15 15 EBITDA/ Revenue margin Net invoiced turnover YoY -3% (excl. FX) but increase of net invoiced turnover from Q1 9 4 (1) in MCHF, Q1 in % 2011 1.9 1.7 Q2 2011 4 0.6 Q3 2011 1.4 1.9 1.8 Q4 2011 Q1 Q2 (0.1) (1) Q3 8 1.0 Q4 2 0.3 Q1 2013 1.9 Q2 2013 to Q2 2013 by 8.4% Target of break-even not reached yet, but Q2 2013 EBIT positive Domestic network optimisation launched Slide 15

Contract Logistics Performance of Business Unit Income Statement in CHF million HY1 HY1 2013 Variance Invoiced Turnover 2'150 2'259 5.1% Net Invoiced Turnover 2'009 2'085 3.8% Gross profit 1'512 1'554 2.8% EBITDA 72 86 19.4% EBITA 38 52 36.8% EBIT 25 45 80.0% EBITDA / Revenue margin 3.3% 3.8% EBIT / Revenue margin 1.2% 2.0% EBIT / GP margin 1.7% 2.9% 50 45 40 35 30 25 20 15 10 5 41 - in MCHF, Q1 in % 2011 3.9 4.3 44 Q2 2011 31 45 3.0 4.2 Q3 2011 Q4 2011 33 39 3.1 3.6 Q1 Q2 43 42 36 44 4.0 3.2 3.8 3.8 Q3 Q4 Q1 2013 Q2 2013 EBITDA EBITDA/ Revenue margin Highlights Half-Year 2013 Increase of net invoiced turnover by 3% (excl. FX) Reduction of loss making locations/customers is showing positive effects Selective growth with global customers and minimum yield targets Slide 16

Group Key Data Financial Overview HY1 2013 Financial targets CHF million 2013 Invoiced Turnover 10,062 10,394 Gross Profit 3,032 3,112 EBITDA 389* 466 Net earnings for the period 211* 285 Profitability CAPEX Conversion rate (EBIT/GP) in Seafreight 30%+, in Airfreight 25%+ Estimate at approx. CHF 175 mio (: CHF 175 mio) EPS (basic) in CHF 1.76 2.38 Total Assets 6,206 6,146 Equity 2,153 2,294 Equity % of Total Assets 34.7% 37.3% Working Capital Cash Target to maintain working capital intensity at 3.5 4.0% Emphasis on safeguarding a high cash position Cash & Cash Equivalents, net 785 815 Operational Cash Flow 387* 474 Capex 75 79 * incl. EU antitrust fine of CHF 65 million Tax Confirm sustainable tax rate around 21-22% Slide 17

Balance Sheet CHF million 31 December 30 June 2013 CHF million 31 December 30 June 2013 Assets Liabilities and equity Property, plant and equipment 1'134 1'142 Goodwill 694 694 Equity attributable to the equity holders of the parent company 2'396 2'272 Intangibles 141 114 Non-controlling interests 29 22 Others 234 229 Total equity 2'425 2'294 Non-current assets 2'203 2'179 Non-current liabilities 609 568 Trade payables 1'337 1'344 Trade receivables 2'428 2'507 Accrued trade expenses / deferred income 931 934 Cash and cash equivalents 1'083 838 Bank and other interest-bearing liabiliites 36 33 Others 565 622 Others 941 973 Current assets 4'076 3'967 Current liabilities 3'245 3'284 Total assets 6'279 6'146 Total liabilities and equity 6'279 6'146 Slide 18

Cash Flow Half-Year CHF million 2013 Better/(Worse) Operational cash flow 387 474 87 Changes in working capital (138) (115) 23 Increase of provision for antitrust fine 65 - (65) Income taxes paid (97) (105) (8) Cash flow from operating activities 217 254 37 Cash flow from investing activities 200 (61) (261) Cash flow from financing activities (474) (435) 39 Exchange difference on cash and cash equivalents 7 (1) (8) Increase/(decrease) in cash and cash equivalents (50) (243) (193) Cash and cash equivalents at the beginning of the period, net 835 1'058 223 Cash and cash equivalents at the end of the period, net 785 815 30 Slide 19

Net Working Capital Development CHF million June Dec March 2013 June 2013 Variance June 13 vs. Dec 12 Trade receivables & Work in progress 2'917 2'809 2'870 2'867 (58) Trade payables & Accrued trade expenses (2'171) (2'138) (2'108) (2'120) (18) Net Working Capital 746 671 762 747 (76) KPI's: Working Capital Intensity 3.7% 3.2% 3.7% 3.6% 0.4% DSO 44.9 42.6 46.1 43.9 (1.3) DPO 53.2 50.4 53.5 50.7 0.3 8.3 7.8 7.4 6.8 (1.0) Slide 20

Outlook Volume Development 2013 Business unit Kuehne + Nagel Kuehne + Nagel HY1 2013 Kuehne + Nagel 2013 Estimate Market Seafreight [TEU] + 6 % + 3 % + 4 to 6 % + 2 to 3 % Airfreight [Ton] + 2 % + 4 % + 1 to 3 % + 0 to - 2 % Road & Rail [net inv d TO] + 7 % - 3 % + 0 to 2 % + 0 to - 2 % Contract Logistics [net inv d TO] + 4 % + 3 % + 0 to 2 % + 0 % Slide 21

Appendix

Upcoming Events September 18, 2013 Capital Markets Day, London October 15, 2013 Nine-months 2013 results March 3, 2014 Full year 2013 results April 14, 2014 First quarter 2014 results May 6, 2014 Annual General Meeting May 13, 2014 Dividend payment for 2013 July 14, 2014 Half-year 2014 results October 13, 2014 Nine-months 2014 results Slide 23

Development Main Exchange Rates vs. CHF Income Statement (average rates) EUR USD GBP Full-year 2011 1.2350 0.8908 1.4226 1.2062 0.9327 1.4827 HY1 1.2066 0.9252 1.4622 2013 1.2289 0.9363 1.4476 Better/(Worse) 1.8% 1.2% (1.0%) 0.9% Net earnings impact Slide 24

Quarter over Quarter HY1 2013-2013 2013/ Change in % Variance in CHF million 2013/ CHF million Q1 Q2 Total Q1 Q2 Total Q1 Q2 Total Q1 Q2 Total Seafreight Turnover 2'204 2'279 4'483 2'031 2'283 4'314 +8.5 (0.2) +3.9 173 (4) 169 Gross Profit 318 321 639 314 316 630 +1.3 +1.6 +1.4 4 5 9 Total Expenses (222) (219) (441) (219) (215) (434) (1.4) (1.9) (1.6) (3) (4) (7) EBITDA 96 102 198 95 101 196 +1.1 +1.0 +1.0 1 1 2 EBIT 91 96 187 89 96 185 +2.2 +0.0 +1.1 2 0 2 GP / Turnover 14.4% 14.1% 14.3% 15.5% 13.8% 14.6% EBITDA / Turnover 4.4% 4.5% 4.4% 4.7% 4.4% 4.5% EBIT / GP 28.6% 29.9% 29.3% 28.3% 30.4% 29.4% Volume (TEU's '000) 838 911 1'749 819 879 1'698 +2.3 +3.6 +3.0 19 32 51 GP 379 352 365 383 359 371 (1.0) (1.9) (1.6) (4) (7) (6) EXPENSES per TEU (271) (247) (258) (275) (250) (262) +1.5 +1.2 +1.5 4 3 4 EBIT 108 105 107 108 109 109 0.0 (3.7) (1.8) 0 (4) (2) Airfreight Turnover 1'011 1'047 2'058 967 1'014 1'981 +4.6 +3.3 +3.9 44 33 77 Gross Profit 219 223 442 204 211 415 +7.4 +5.7 +6.5 15 12 27 Total Expenses (excl. one-off item) (160) (158) (318) (150) (150) (300) (6.7) (5.3) (6.0) (10) (8) (18) EBITDA 59 65 124 54 61 115 +9.3 +6.6 +7.8 5 4 9 EBIT 53 57 110 48 57 105 +10.4 +0.0 +4.8 5 0 5 GP / Turnover 21.7% 21.3% 21.5% 21.1% 20.8% 20.9% EBITDA / Turnover 5.8% 6.2% 6.0% 5.6% 6.0% 5.8% EBIT / GP 24.2% 25.6% 24.9% 23.5% 27.0% 25.3% Volume (TON's '000) 281 277 558 268 270 538 +4.9 +2.6 +3.7 13 7 20 GP 78 81 79 76 78 77 +2.6 +3.8 +2.6 2 3 2 EXPENSES per 100kg (59) (60) (59) (58) (57) (58) (1.7) (5.3) (1.7) (1) (3) (1) EBIT 19 21 20 18 21 19 +5.6 +0.0 5.3 1 0 1 Slide 25

Quarter over Quarter HY1 2013-2013 2013/ Change in % Variance in CHF million 2013/ CHF million Q1 Q2 Total Q1 Q2 Total Q1 Q2 Total Q1 Q2 Total Road & Rail Logistics Turnover 737 790 1'527 744 814 1'558 (0.9) (2.9) (2.0) (7) (24) (31) Gross Profit 221 235 456 225 231 456 (1.8) +1.7 0.0 (4) 4 0 Total Expenses (219) (220) (439) (211) (216) (427) (3.8) (1.9) (2.8) (8) (4) (12) EBITDA 2 15 17 14 15 29 (85.7) +0.0 (41.4) (12) 0 (12) EBIT (9) 4 (5) 1 1 2 (1'000.0) (300.0) +350.0 (10) 3 (7) GP / Turnover 30.0% 29.7% 29.9% 30.2% 28.4% 29.3% EBITDA / Turnover 0.3% 1.9% 1.1% 1.9% 1.8% 1.9% EBIT / Turnover (1.2%) 0.5% (0.3%) 0.1% 0.1% 0.1% Contract Logistics Turnover 1'110 1'149 2'259 1'064 1'086 2'150 +4.3 +5.8 +5.1 46 63 109 Gross Profit 770 784 1'554 750 762 1'512 +2.7 +2.9 +2.8 20 22 42 Total Expenses (728) (740) (1'468) (717) (723) (1'440) (1.5) (2.4) (1.9) (11) (17) (28) EBITDA 42 44 86 33 39 72 +27.3 +12.8 +19.4 9 5 14 EBIT 20 25 45 11 14 25 +81.8 +78.6 +80.0 9 11 20 GP / Turnover 69.4% 68.2% 68.8% 70.5% 70.2% 70.3% EBITDA / Turnover 3.8% 3.8% 3.8% 3.1% 3.6% 3.3% EBIT / Turnover 1.8% 2.2% 2.0% 1.0% 1.3% 1.2% Slide 26

Quarter over Quarter HY1 2013-2013 2013/ Change in % Variance in CHF million 2013/ CHF million Q1 Q2 Total Q1 Q2 Total Q1 Q2 Total Q1 Q2 Total Real Estate Turnover - 1 1-1 1 Gross Profit - 1 1-1 1 Total Expenses 15 15 30 18 14 32 (16.7) +7.1 (6.3) (3) 1 (2) EBITDA 15 16 31 18 15 33 (16.7) +6.7 (6.1) (3) 1 (2) EBIT 9 10 19 12 9 21 (25.0) +11.1 (9.5) (3) 1 (2) Insurance Broker Turnover 32 34 66 28 30 58 +14.3 +13.3 +13.8 4 4 8 Gross Profit 9 11 20 9 9 18 +0.0 +22.2 +11.1 0 2 2 Total Expenses (4) (6) (10) (5) (4) (9) 20.0 (50.0) (11.1) 1 (2) (1) EBITDA 5 5 10 4 5 9 +25.0 +0.0 +11.1 1 0 1 EBIT 5 5 10 4 5 9 +25.0 +0.0 +11.1 1 0 1 GP / Turnover 28.1% 32.4% 30.3% 32.1% 30.0% 31.0% EBITDA / Turnover 15.6% 14.7% 15.2% 14.3% 16.7% 15.5% EBIT / Turnover 15.6% 14.7% 15.2% 14.3% 16.7% 15.5% TOTAL GROUP Turnover 5'094 5'300 10'394 4'834 5'228 10'062 +5.4 +1.4 +3.3 260 72 332 Gross Profit 1'537 1'575 3'112 1'502 1'530 3'032 +2.3 +2.9 +2.6 35 45 80 Total Expenses (1'318) (1'328) (2'646) (1'284) (1'294) (2'578) (2.6) (2.6) (2.6) (34) (34) (68) EBITDA (excl. one-off item) 219 247 466 218 236 454 +0.5 +4.7 +2.6 1 11 12 EBIT (excl. one-off item) 169 197 366 165 182 347 +2.4 +8.2 +5.5 4 15 19 EBT (excl. one-off item) 171 200 371 168 185 353 +1.8 +8.1 +5.1 3 15 18 Earnings for the period (excl. one-off item) 134 155 289 133 146 279 +0.8 +6.2 +3.6 1 9 10 EU antitrust fine 0 0 0 (65) 0 (65) 65 0 65 Non-controlling interests (2) (2) (4) (1) (2) (3) +100.0 +0.0 +33.3 (1) 0 (1) Net Earnings 132 153 285 67 144 211 +97.0 +6.3 +35.1 65 9 74 GP / Turnover 30.2% 29.7% 29.9% 31.1% 29.3% 30.1% EBITDA (excl. one-off item) / Turnover 4.3% 4.7% 4.5% 4.5% 4.5% 4.5% EBIT (excl. one-off item) / Turnover 3.3% 3.7% 3.5% 3.4% 3.5% 3.4% EBT (excl. one-off item) / Turnover 3.4% 3.8% 3.6% 3.5% 3.5% 3.5% Earnings for the period (excl.) / Turnover 2.6% 2.9% 2.8% 2.8% 2.8% 2.8% Slide 27

Thank you for your attention.

Contact Gerard van Kesteren Markus Blanka-Graff Andrea Kobi CFO Director Corporate Finance + Investor Relations Investor Relations gerard.vankesteren@kuehne-nagel.com markus.blanka@kuehne-nagel.com andrea.kobi@kuehne-nagel.com Tel: +41 (0)44 7869 564 Tel: +41 (0)44 7869 644 +41 (0)44 7869 561 Disclaimer Investing in the shares of Kuehne + Nagel International AG involves risks. Prospective investors are strongly requested to consult their investment advisors and tax advisors prior to investing in shares of Kuehne + Nagel International AG. This document contains forward-looking statements which involve risks and uncertainties. These statements may be identified by such words as may, plans, expects, believes and similar expressions, or by their context. These statements are made on the basis of current knowledge and assumptions. Various factors could cause actual future results, performance or events to differ materially from those described in these statements. No obligation is assumed to update any forward-looking statements. Potential risks and uncertainties include such factors as general economic conditions, foreign exchange fluctuations, competitive product and pricing pressures and regulatory developments. The information contained in this document has not been independently verified and no representation or warranty, express or implied, is made to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. The information in this presentation is subject to change without notice, it may be incomplete or condensed, and it may not contain all material information concerning the Kuehne + Nagel Group. None of Kuehne + Nagel International AG or their respective affiliates shall have any liability whatsoever for any loss whatsoever arising from any use of this document, or otherwise arising in connection with this document. This presentation is not an offer of securities for sale in the United States. The offer and sale of Kuehne + Nagel International AG securities has not been, and will not be registered under the United States Securities Act of 1933, as amended. Kuehne + Nagel International AG securities may not be offered or sold to anyone in the United States absent such registration, except pursuant to an appropriate exemption from registration. There will be no public offering of Kuehne + Nagel International AG securities in the United States. Slide 29